Credit Suisse Analysts Say Capital Levels of US Banks are Sufficient

Bank analysts from Credit Suisse (NYSE:CS) released a research note via Barron’s today regarding the capital levels of the big US banks.  The analysts note, in part:

On Friday, the Financial Stability Board announced its initial assessment of which global financial institutions will be subject to additional capital buffers. Key takeaways for us: the proposed institutions and size of buffers are broadly in line with our expectations for the major U.S. banks and what was set forth in the Basel Committee’s announcements in late June.

Of the banks covered in its report, Credit Suisse rates the following ones Outperform:

  • Goldman Sachs Group (NYSE:GS): The shares recently traded at $106.96, up $1.39, or 1.32%, on the day.  The shares have traded in a 52-week range of $84.27 to $175.34 and its market capitalization is $54.13 billion.  About the company: The Goldman Sachs Group, Inc., a bank holding company, is a global investment banking and securities firm specializing in investment banking, trading and principal investments, asset management and securities services. The Company provides services to corporations, financial institutions, governments, and high-net worth individuals.
  • JPMorgan Chase (NYSE:JPM): The shares recently traded at $34.39, up $0.15, or 0.44%, on the day.  The shares have traded in a 52-week range of $27.85 to $48.36 and its market capitalization is $130.64 billion.   About the company: JPMorgan Chase & Co. provides global financial services and retail banking. The Company provides services such as investment banking, treasury and securities services, asset management, private banking, card member services, commercial banking, and home finance. JP Morgan Chase serves business enterprises, institutions, and individuals.
  • State Street (NYSE:STT): The shares recently traded at $41.08, up $0.48, or 1.17%, on the day.  The shares have traded in a 52-week range of $29.86 to $50.26 and its market capitalization is $20.25 billion.  About the company: State Street Corporation services institutional investors and manages financial assets worldwide. The Company’s products and services include custody, accounting, administration, daily pricing, international exchange services, cash management, financial asset management, securities lending, and investment advisory services.
  • US Bancorp (NYSE:USB): The shares recently traded at $25.84, down $0.05, or 0.19%, on the day.  The shares have traded in a 52-week range of $20.10 to $28.94 and its market capitalization is $49.34 billion.  About the company: U.S. Bancorp is a diversified financial services company that provides lending and depository services, cash management, foreign exchange and trust and investment management services. The Company also provides credit card services, mortgage banking, insurance, brokerage, and leasing. U.S Bancorp operates in the Midwest and Western United States.

Other banks covered whose capital levels Credit Suisse thinks are sufficient include:

  • Northern Trust (NASDAQ:NTRS):  The shares recently traded at $40.01, down $0.01, or 0.02%, on the day.  The shares have traded in a 52-week range of $33.20 to $56.86 and its market capitalization is $9.64 billion.   About the company: Northern Trust Corporation is a financial holding company that provides investment management, asset and fund administration, fiduciary, and banking solutions for corporations, institutions, and affluent individuals. Northern trusts banking operations are its primary operations.
  • Bank of America (NYSE:BAC):  The shares recently traded at %6.46, up $0.01, or 0.08%, on the day.  The shares have traded in a 52-week range of $5.13 to $15.31 and its market capitalization is $65.47 billion.   About the company:  Bank of America Corporation accepts deposits and offers banking, investing, asset management, and other financial and risk-management products and services. The Company has a mortgage lending subsidiary, and an investment banking and securities brokerage subsidiary.
  • Bank of New York Mellon (NYSE:BK): The shares recently traded at $21.31, up $0.05, or 0.24%, on the day.  The shares have traded in a 52-week range of $17.10 to $32.50 and its market capitalization is 5.84 billion.  About the company:  Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company. The Company provides financial services for institutions, corporations and high-net-worth individuals, providing asset management and wealth management, asset servicing, issuer services, clearing services and treasury services.

(Note: Selected financial data are sourced from Google Finance. All data are assumed to be accurate.)

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